Corporate Solar Market Thrives Despite Challenges in 2018

March 16, 2018 06:28

2018 began with the Government slapping a 30% tariff on the imports of solar panels. Not to mention the budget proposal that proposes cuts from the budgets reserved for the renewable energy industry. Naturally, these policy changes have had an impact on the residential solar market in the country. What’s interesting is that the corporate sector has not been shaken by these policy changes and is still showing a healthy inclination towards going solar.

This was revealed in the US Solar Market Report of 2017 which clearly outlined the great progress of the US Solar Market in the corporate sector.

Let’s take a look at some of the major findings of the report:

10.6 Giga Watts of new photovoltaic capacity installed in 2017.

The second year in a row with over 10 GW of renewable energy consumed.

Fourth consecutive year of improvement in US solar market. However, in 2017 the solar panel sales have seen a decline of 41% as compared to 2016, this may be because of the recent tariff and policy changes.

Overall turnout of solar panels anticipated to be doubled in the next five years.

Fewer chances of 15.1 GWs of solar panel installation until 2023.

While the growth was recorded primarily in the commercial solar sector, the utility solar segment received a drop in growth compared to 2016.

Overall, the U.S solar market performed really well in the corporate segments, however, the sales among the residential and utility segments have declined considerably. The next few years are anticipated to be good for the U.S solar market. However, the outstanding performance of 15.1 GWs of photovoltaic capacity in 2016 will remain unattainable till 2023.